FTX Wallet API Sync is not importing my costs/gains accurately and is out by about $60,000
I think this is due to issues with Perpetual (PERP) contracts and using leverage etc, but I don’t have any more information for you.
Is this bug noted? As right now the best thing I could do would to be just remove the FTX wallet.
Hi, did you carry out short/long trades using margin on ftx?
I’m having similar issues with Syncing and getting accurate calculations. I also have issues with transactions missing purchase history - but these are margin trades so purchase history shouldn’t be necessary.
I do carry out short/long trades (using margin) on FTX - as does MatPlatinum.
I have noticed that Koinly does not differentiate between BTC (spot trading) and BTC-PERP (perpetual futures), and this is the same for all other cryptocurrencies, could this incorrect categorising be part of the problem?
Yes, lots of margin trading.
Any way to fix it so the real value is reflected?
We do not support margin trades on FTX atm but are planning on adding this. They dont provide any information that would help us distinguish margin trades from real trades at this time.
@koinly this is very frustrating we are near in december and youre not supporting FTX properly despite making public marketing that you are properly supporting FTX.
This thread describes to you how to support futures trading and to make sure you are including Funding Payments in the futures P/L as well, people are depending on this.
Do you have an ETA on this? I’ve tried messaging your support email, but haven’t had an answer for a week.
Would you like us to reach out to ftx to ask them to support a feature?
If so, what exactly do you need them to do to help?
@koinly you can deterministically get margin (futures) trading data based on the asset name.
if it has “-” in the name, it’s derivatives.
You also need to get Funding payments to count as gains/losses as derivatives.
please update your software
Great point, they should be able to work it out by the dash in the name.
Hopefully it can be fixed because it is so inaccurate at the moment.
I am having the exact issues. Is the support for margin trades planned for any time soon? Is it possible to create a csv that would reflect the margin trades from ftx properly?
Even regular (non-margin) perp trades have a dash in them. We import funding payments as gains, if you are importing a csv file with your data then check if these payments are present in the file.
Sorry but what do you mean “regular (non-margin) perp trades have a dash in them”
there is no such thing as non-margin perp trades. -PERP means perpetual futures which are implicitly futures trades, regardless of how much leverage you use.
you guys really should fix this before the year is up, it’s very simple
Hi, please can you find a way to fix this (I am happy to BETA test any solution), I use FTX PERPs a lot and this is screwing up my entire tax calculations…Thank you.
Any update @koinly ?
FTX is becoming one of the top exchanges and an ability to correctly calculate Futures and Margin trades are a must for Koinly, it is like not supporting Binance properly, it severely impacts the Koinly offering.
Is anyone aware of alternatives to calculating FTX futures tax e.g. other services than Koinly or a manual way? I can’t seem to find a way to do this and my EOFY is quickly approaching.
Would really like to use the Koinly API service to do this as it is a great product but it seems like requests for support are going unanswered for a long time now…
Well, it is still not fixed and seems Koinly isn’t really looking to find a solution.
Anyone else aware of another service that tracks FTX Perp trades properly?
Might need to move before tax time.
When syncing FTX via API, Koinly adds BTC-PERP trades correctly.
But when uploading via CSV, it adds BTC-PERP trades as spot BTC.
Did anyone find a fix for this, or a service that’s able to handle this correctly?
I am also having this issue, FTX is one of the more popular perp trading platforms. Is there a fix for this yet?
@koinly Can we please get an ETA on fixing the API for FTX? It is the only thing holding me back from finishing my taxes.